Common use of Ownership of Limited Liability Company Interests; Subsidiary Clause in Contracts

Ownership of Limited Liability Company Interests; Subsidiary. All of the issued and outstanding limited liability company interests of HVF are owned by Hertz, all of which limited liability company interests have been validly issued, are fully paid and non-assessable and are owned of record by Hertz, free and clear of all Liens other than Permitted Liens; provided however that, such limited liability company interests in HVF (the “SPV Issuer Equity”) may be pledged for the benefit of one or more Pledged Equity Secured Parties pursuant to any Pledged Equity Security Agreement as long as such Pledged Equity Security Agreement contains the Required Standstill Provisions. HVF has no subsidiaries and owns no capital stock of, or other equity interest in, any other Person, other than the Nominee.

Ownership of Limited Liability Company Interests; Subsidiary. All of the issued and outstanding limited liability company interests of HVF HVIF are owned by Hertz, all of which limited liability company interests have been validly issued, are fully paid and non-assessable and are owned of record by Hertz, free and clear of all Liens other than Permitted Liens; provided however thatprovided, however, that such limited liability company interests in HVF HVIF (the “SPV Issuer Equity”) may be pledged for the benefit of one or more Pledged Equity Secured Parties pursuant to any Pledged Equity Security Agreement as long as such Pledged Equity Security Agreement contains the Required Standstill Provisions. HVF HVIF has no subsidiaries and owns no capital stock of, or other equity interest in, any other Person, other than the Nominee.

Ownership of Limited Liability Company Interests; Subsidiary. All of the issued and outstanding limited liability company interests of HVF III are owned by Hertz, all of which limited liability company interests have been validly issued, are fully paid and non-assessable and are owned of record by Hertz, free and clear of all Liens other than Permitted Liens; provided however thatprovided, however, that such limited liability company interests in HVF III (the “SPV Issuer Equity”) may be pledged for the benefit of one or more Pledged Equity Secured Parties pursuant to any Pledged Equity Security Agreement as long as such Pledged Equity Security Agreement contains the Required Standstill Provisions. HVF III has no subsidiaries and owns no capital stock of, or other equity interest in, any other Person, other than the Nominee.